Hanesbrands (NYSE:HBI) Upgraded by UBS Group to “Buy” Rating

UBS Group upgraded shares of Hanesbrands (NYSE:HBIFree Report) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $11.00 price target on the textile maker’s stock, up from their prior price target of $9.00.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays lifted their price objective on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.90.

Read Our Latest Research Report on HBI

Hanesbrands Price Performance

Shares of HBI stock opened at $8.74 on Tuesday. The stock’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $6.21. Hanesbrands has a one year low of $3.58 and a one year high of $9.10. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -13.24 and a beta of 1.58. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

Hanesbrands (NYSE:HBIGet Free Report) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. On average, analysts expect that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HBI. Blue Trust Inc. raised its position in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its position in Hanesbrands by 1.3% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock valued at $778,000 after purchasing an additional 2,072 shares during the period. Arizona State Retirement System boosted its stake in shares of Hanesbrands by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock valued at $485,000 after purchasing an additional 2,221 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Hanesbrands by 6.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock valued at $185,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Hanesbrands by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker’s stock worth $872,000 after buying an additional 3,500 shares during the period. 80.31% of the stock is currently owned by institutional investors.

About Hanesbrands

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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.

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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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